Total net sales for the quarter were $403.4 million, up 2% fromthe same period last year. Net income was $13.1 million, upsignificantly from $7.2 million a year ago. But same-store salesfor the quarter were down 3.9% from last year, leading to cautiousgrowth.
"We're not comfortable growing [the Bob Evans] model unit untilwe see better same-store sales and unit economics," said Steven A.Davis, CEO.
For the full fiscal year, the company expects to openapproximately 10 new Bob Evans restaurants. During the firstquarter, the company opened four new Bob Evans Restaurants andclosed one. Three more Bob Evans Restaurants were closed in thecurrent quarter. Last year, the chain opened 20 new units andclosed 24.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
